The latest death occurred on Thursday afternoon, when a male cyclist was killed in a collision with a bus at the intersection of Military and Ben Boyd roads in Neutral Bay.

Mr Gay told 2UE Breakfast that, while both motorists and cyclists needed to take more care on the roads, he was actively looking at introducing a licensing system for cyclists.

"The thing I really need to look at is, if we're going to put rules in place, and I need to be tougher on car drivers, but I am increasingly persuaded that we need to look at a licence for cyclists ...," Mr Gay said.

"It's not going to worry the ones that are doing the right thing, but the bad ones that are running lights, crossing over, being aggressive, they're a large part of the statistic."

In another crash on Wednesday morning, cyclist Anthony Platts-Baggs was left with two broken legs after his bicycle and an Australia Post delivery truck collided on the Princes Highway at St Peters.

Mr Platts-Baggs was trapped under the truck for more than an hour before emergency service workers could free him.

Asked if cyclists should be banned from certain busy thoroughfares, such the Princes Highway, Mr Gay told 2UE that he was considering the option.

"We will look at it on a safety basis," Mr Gay said.

"The hard thing is, if I put a carte blanche ban in, there are some really good rides that cyclists do, and part of it involves Southern Cross Drive and then on down to Wollongong. I understand how important this is for cyclists, but there have been a couple of accidents there," he said.

Mr Gay said the number of cyclist deaths this year was down on last year, "but that's no huge solace because last year was a record year".

Last year 14 cyclists died on NSW roads, which was double the the figure of the previous year.

"We need to get people to be more careful, but the key is to get the people in bigger vehicles to understand that they need to be more observant, but the other part is we need cyclists to actually obey the rules and be helpful as well," Mr Gay said.

He acknowledged that his comments would be contentious.

"Before the phones run off the hook, as I know they will, it is a very small section of cyclists that don't do the right thing. It would be probably under one per cent," he said.